BeWiseOnline.org
Title
Prevention of Elder Financial Abuse and Elder Financial Exploitation
Description
Financial abuse of elders and dependent adults is on the rise. In 1999, 225,000 cases of vulnerable adult abuse were reported in California, of which approximately 25% were reported as financial abuse. In 2002, at least 250,000 cases were reported, with approximately 40% identified as financial abuse.Financial abuse is one of the most under reported crimes due to the victim's embarrassment, fear of loss of independence, intimidation by the perpetrator, and widespread lack of awareness that it is a crime. Victims of elder abuse, neglect and financial exploitation are 3.1 times more likely to die at an earlier age than those not victimized. Victims rarely recover financially and losses often lead to depression, increased physical problems, reliance on public benefits and even death. Increased funding and partnership is urgently needed to fight this growing problem.
EFPN works to prevent financial abuse of elders and dependent adults through community education programs, public awareness campaigns and coordination of financial institution employee training.
The Elder Financial Protection Network is a non-profit organization which was launched in 2000. In addition to raising community awareness and education about elder financial abuse, in the last 3 years, EFPN has:
